Fintech summary to 29 April 2024
Another busy 10 days in fintech land with M&A , launches, partnerships, product and the Finnies Finalists.... Thanks and welcome to the new subscribers this week - whilst in some instances "Fintech" feels tough, it's great to see the awareness and interest in this ongoing newsletter to keep an eye on what is happening.
Zip Co announced its third quarter results - Key achievements include a Group cash EBTDA of $20.1m for the quarter, driven by accelerated transaction volume growth in the US and continued margin expansion in Australia.
Unloan announced that they've officially expanded their offering to new home buyers with the potential to obtain conditional approval in 10 minutes.
FinTech Australia has announced the finalists for Australia’s most prestigious annual fintech business awards, The Finnies. This year’s awards drew over 322 entries across 19 categories, creating a shortlist of 154 finalists.
Cents2Bills announced their launch - Cents2Bills is an innovative platform that simplifies utility bill payments and alleviates financial burdens for users. The platform allows members to link their Visa or Mastercard, rounding up everyday purchases to the nearest dollar and transferring the spare change to a digital wallet.
Plenti Limited reported a record Cash NPAT and a 21% year-over-year increase in its loan portfolio to $2.14 billion for the quarter ending March 31, 2024
Credit Clear Limited (ASX:CCR) reported a record Q3 revenue of $10.5 million, up 22% from the previous corresponding period (pcp), driven by the acquisition of two new tier-1 clients and marked its fourth consecutive quarter of positive cash from operations, now totaling $1.8 million year-to-date.
Raiz Invest reported a 29.2% annual revenue growth to $5.6m in Q3 FY24, with a 3.7% quarterly increase in Australian active customers to 303,938 and a 10.5% quarterly growth in Funds Under Management (FUM) to $1.34bn.
Rent.com.au announced $250m through their Rent through their platform RentPay.